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, they will be arguing for his power to be curbs. there is a big discussion. in the u.s., and they are investigating. tomorrow and the next days and weeks are going to be fascinating in that respect. >> as always, we thank you very much. on to libya now, where rebels have claimed victory in the battle for a strategic town. there are conflicting reports about whether or not they have complete control of the town which has been held since gaddafi -- by gaddafi since march. most of the gaddafi forces are said to be retreating west. rebels say 12 fighters were killed and hundreds wounded. the capture would mark a major rebel breakthrough in their bid to push westward. the foreign ministers of europe have been meeting in brussels to discuss the situation in syria. they are considering a series of measures to resolve the standoff between the president and his opponent. in syria itself, anti-government protests are continuing, and activists are warning of potential civil war in the country. >> syria was top of the agenda in brussels today. eu foreign ministers pressured the president assad to reform or ste
appears to be following -- the falling apart due to the credibility of the accuser. there is a big trade dispute going on right now. the european union and mexico which took objection to the abuse of quotas, china must either appeal the ruling or comply by removing the restririctio. failure to do so will enable the u.s. to respond with trade sanctions. they are used in the electrical appliances and predominantly in ththe stl industry. the banking system could also be headed for some big trouble. they have failed to keeeep track of economic stimulus funds. the total value could be well over 300 billion euros. the scale of such loans could pose a threat to china of's entire banking system and the risk exposure could change the credit outlook. the trade manufacturer has plans to cut more than 1400 jobs. a move that will eliminate half of the entire work force. the decision comes after they failed to win a major contract to build more than 1000 train carriages in britain. >> of the contract is part of the plan to upgrade the rail lines. the consortium won the final better. the contract calls
on the fate of europe's economies. there are plenty that want to and the stranglehold of the big three. >> is not good when the entire world is being governed by three american companies. it would be better if there were more competition. and i would be very keen to see european and asian agencies as well. the situation as it is now is not healthy and we must put and intellect. -- an end to it. >> european lawmakers helped create that unhealthy situation. the european union strengthen the role of credit agencies when it adopted the international banking agreement. the question the wisdom of that move. he helped lay the foundation for the single european currency while at the european commission. he is analyzing the efforts to save the ural -- euro. >> if they are a minimum requirement, the agencies would not be so powerful. >> they are supposed to make the banking system more stable. somehow the people that rate it see things? a small independent ratings agency believes the government should enact increased competition. >> the problem have right now is the regulatory framework lead to
in the senate for us. how does austerity look for ordinary italians? >> the big weakness of this budget is it puts off some many of the cuts and tax increases until 2013, 2014. that is not coincidental. there is a general election in june 2013. all of this will have to be done by the next government. in the meantime, there is going to be a gaming tax, increased health charges, cuts in pensions, but only for the highest pensions -- and in italy, pensions are pretty generous. this is not a budget which in the short-term is going to lead anybody into destitution. >> in other news, syrian pro- democracy activists say government forces have killed at least nine people as protests against the president continue. reports indicate the military crackdown on opposition activists in damascus and hana. police have arrested members of opposition supporters. non-governmental organizations say at least 1600 people have been killed since the uprising began four months ago. 13 turkish soldiers have been killed in an attack in the southeast of the country. officials say kurdish militants ambushed troops.
not call it a war with itself, but there is definitely a big divide between the classic dealmakers, the moderate republicans, and the freshman tea party members. they are quite numerous. they want to cut spending and massive weight and balance the budget. house republicans passed a deal only a week ago that included those two things. massive spending and a balanced budget amendment, but the senate, which is a majority democratic, would need to take that up. house speaker boehner took the amendment out. that is not even getting through the house. what they are discussing right now is put it back in at some point. >> a little bit of a yo-yo effect. house speaker boehner has been in charge through this, particularly this week. is charged is to craft legislation the house will accept. so far he looks like a failure, does he not? >> his reputation has taken a big hit this week, no doubt about that. the momentum is shifting from the house, led by the republicans, to the senate, led by the democrats. they are drafting their own legislation, trying to push that through. i have outlined a p
on chancellor merkel's viewpoint. >> angela merkel warned that people should not be expecting one big, spectacular solution. this is a long, ongoing process. it is a matter of small steps. we have to make sure that greece becomes competitive again, that it gets its debt down, and that will not be achieved with one big, spectacular step. president medvedev also had some words to say on the euro. he says he is cautiously optimistic that it will pull through. he says it is an extortion attempt, said nations have never tried before, and it is wishing europe bloc -- he said it is an extraordinary attempts, such that nations have never tried before, and he is pushing europe luck. >> some clouds on the horizon. a closely watched survey said dennis analysts and institutional investors are in anticipating a weaker performance in the months to come -- a closely watched survey said analysts and institutional investors are anticipating a weaker performance in the months to come. use 9 last month. reflecting concern that the debt crisis, could spread to italy. however, the drop in german expectati
the measure. >> there are so many big problems, especially in my age group. we have to rethink the entire system. >> with this austerity program, when is our economy going to grow again? this economy will never grow again. >> some economists say the measures will dampen growth. something had to be done. it today's overall debt is among the highest in europe. markets will keep a close eye on the country until the austerity measures start showing results. >> european stocks slid on a friday and posted their biggest weekly loss in four months. the german benchmark index closed in positive territory. across the atlantic, the dow jones industrial managed to close the day in positive territory. the euro is trading with $1 at $1.46. barack obama has warned that time is running out on raising the a limit the -- raising the limit on the amount of debt the u.s. can have. a decision is needed to avoid a possible default in early august. billy could mean a rise in interest rates in- -- failure could mean a rise in interest rates. more news with brian thomas. >> western and regional powers have given
of the final mission ever for the shuttle program. for many americans, there's a big degree of this dog just connected to the shuttle. 1 million people traveled to florida to catch a glimpse of the final lift off. we begin our in depth with a look at how the shuttle revolutionized space shuttle as well as some of the challenges it has faced over 30 years of operation. ♪ >>he space sttle is the symbol of the u.s. space program for more than three decades. it began with the dream of flying weekly missions into orbit. they were on hand for the debut of the prototype. no one had seen a spaceship like it. after vertical lift off, it could glide back and land like an airplane and ready for another mission began. -- it again. ;>> everyone wondered what spaceflight with wings would be like. it was supposed to be simpler with less acceleration. it was uncharted territory for nasa. >> it also paved the way for other countries to join nasa it in exploring space. the europeans build a research lab specially designed for the shuttle's loading bay. it is your ticket to manned space flight. -- it was eur
greece in hopes of protecting big ones. >> the threat today is for the whole eurozone, so we need to find a solution. >> ministers signed off on what they hope will be part of the new solution, the new bailout fund that will kick in from 2013, but as they all know, a lot could change before then. >> our brussels correspondent has been following the discussions by the eurozone finance ministers in brussels. can you tell us what has come out of today's debt crisis talks? >> the formal agreement on anything has now been pushed back into another meeting of finance ministers later this month, but they have been discussing a lot. of course, the focus has been on greece and the question of a second bailout for greece. is it possible? how much will be needed? when will it be triggered? and, crucially, should private bondholders take their share responsibly? should there be obliged to extend their lines of credit to greece to put off the evil day when they will need a second bailout and call in their dead? the ecb, the european central bank, thinks that is stretching it to try to get that agreemen
to what analysts call special charters. >> it shot a big hole into the company's results. it will years ago, the ceo and russian prime minister agreed to a partnership with the russian state energy concern. the partnership explicitly forbidden under an agreement with the former french joint venture partner. in may, an arbitration panel ordered siemens to pay damages. another big setback came from the company's health-care operations. the invested heavily in new particle beam therapy to treat cancer. now, it has taken a charge after reevaluating the commercial feasibility of the new technology. the company's other main areas -- heavy machinery and rail transport -- remain strong, but russia says that risks in the global economic outlook are increasing. siemens is already feeling the pressure of increased competition in the wind turbine market. >> the u.s. debt crisis is still unresolved. greece is still struggling with its spiraling debt, and concerns about rome's ability to cut its sovereign debt. italy's borrowing costs soared to almost 6%. the auction was conducted in about how market
growth area. it's a big growth is in the mobile sector and not in the pc market which had to lower the expectations for the pc business for the months ahead. there is a mixed outlook and that is the reason why the stock of intel is losing in the thursday session. >> what other shares or stories are standing out in the session? >> basically, we got extremely good numbers if you compare them to expectations from morgan stanley, the last big american bank to come out with earnings. the stock is trading up by 1.9%. that helps to support financial stocks and wall street. we had a pretty gloomy outlook from pepsi. they had decent numbers for the past but the outlook is a bit disappointing. that stock is one of the bigger losers with a drop of about 5%. >> thank you very much. staying with earnings, things are looking up for american express. cardholders spend a record amount in the second quarter of this year and that sent profits surging to over $1.3 billion. this was a bit of a comeback. many corporate clients cut back on spending during business trips during the financial crisis and f
the procedure which was then banned. a court found in his favor, spurring a big public debate. >> it may prevent suffering in individual cases, but in every single case, it denies a conceived human life the right to live. we should not do that. >> no one takes the decision to have the in vitro fertilization lightly. it is an extremely stressful procedure. both physically and psychologically, and it carries a social stigma. >> couples to go this route already have a long history of suffering behind them. ultimately, arguments like that won, but the use of the procedure will be strongly restrict it. the only parents with hereditary illnesses will qualify. a few hundred couples are likely to benefit each year. >> i am relieved that a sensible world will affect the majority and couples are not prevented from seeking treatment in germany. >> this person finally knows where he stands after campaigning for the procedure the last six years. >> later, the discussion over embryo screening. >>> britain's biggest selling sunday paper has been shut down at amidst the phone hacking scandal. "news of the world
france big 3. germany is gearing up for thehe tour de france. the coach says the team will have to fine-tune its strategy. the german women may be failing to live up to their status. they are sticking to the game plan. the players are looking to improve. >> we have to start playing proper football. straight out attacking the banks so far, we've slipped up on making the final bass and converting our chances -- making the fina pass onrtinour ch if we can donce time. >>ngermy'ud eng. atold ofhe neplaaoe n n lltoy t hepackard set up operations here years ago. the company has invesd the 3miion euros here and continues for the work force of more than 2000. us the openness, meaning t attitude of the people, and the bience of thepele, and of the city. you love had a good mixf naturally, that hasadusor open to strangers or to rene. >> po companies with strong economic growth and low taxe they bef from the strategic locationon at eze borders right into the middle of europe. while some europeanouri are focused on getting their finances in order, poland is european s socce championship, icis chting
as the big three, and command a 93% share of the market. they look at the books of businesses and countries and judge how able they are to pay back financial observations. in a complex internet -- international economy, this information is vital to investors. when the bretton woods system of monetary management fell apart in the 1970's, the role of ratings agencies became even more important. the u.s. government gave them the task of assuring financial reliability. the european union has also require banks to increase capital in line with risk exposure. that risk is measured by the ratings agencies. >> the influence of ratings agencies lies on the one hand in the way their evaluation system has been incorporated into legislation. on the other hand, many business contracts are tied to the marks of the ratings agencies. that means certain private investors will only invest if there is a certain rating. >> one such example is the insurance giant allianz, which relies on ratings agencies to invest huge amounts of capital. but that system historically failed on a massive scale and when the agenc
their salaries. there are not job opportunities. people are not able to get back to normal life. that is the big challenge for the national transitional council. in west libya, the fighting is going on. there is a gap and a difference between the east and west libya. >> us talk about the facebook generation. how much of a difference is it making in libya? >> it is interesting to me, the rebels. they are the generation of facebook. the people fighting now are those who used to chat on facebook. this helps indication between them. even to get international attention by spreading videos and photos. the proof of that was that gaddafi shut down the internet. in the gaza, they are getting access again. >>hat can the international community to to support the rebels? >> the most important thing is that they recognize the national transitional council as the traditional -- legitimate representative of the libyan people. that is the most important thing. they will meet in is a symbol. they will work to support the libyans financially. -- they will meet in istanbul. >> what can germany due to support the r
the political spectrum how the big sector pensions need to be reformed. we need to do that in a reasonable way. >> the strike was the largest in britain for many years. unions said the action might be followed by larger protests later this year when a major public spending sector cuts are expected to begin to bite. >> human-rights activists and syria say security forces have killed at least 19 people in the north of thee country in the past 40 hours. the regime of president assad has move forces to stop refugees from fleeing into turkey. protests against the government continue across the country. hundreds of protesters took to the streets of all. for the first time. in a border town, sir joseph -- soldiers used tear gas. more than 30 people have died as a result of the crackdown on pro-democracy demonstrators. -- more than 130 people have died as a result of the crackdown. jibral said he respected the german abstention in the u.n. vote but action is needed as the war against muammar gaddafi drags on. >> thursday was the third time that the german foreign ministry has meet with the leader of t
? >> there is a potential connection in the sense that if the u.s. were to default, we would see a big spike in long- term interest rates, so that would affect mortgage rates. it would affect car lending rates. it would affect business lending rates. so all of that could be quite problematic for the whole economy. so that's why, you know, certainly the treasury department and one has to say the federal reserve as well very worried about this. and want to avoid this at all costs. >> ifill: does it have to actually occur or is merely this delay, this debate, is that already putting its own drag on these areas of the economy? >> well, so far i say the uncertainty about what is exactly going to happen, what's going to get cut, what could be affected is giving a lot of consumers and businesses pause, if you will, making it quite risk-averse. and one of the reasons we're going through a soft patch, it's not the only reason, one of the reasons is this uncertainty. and what is triggering is risk aversion on the part of businesses and consumers. so already in a sense they're anticipating or worried about what migh
Search Results 0 to 28 of about 29 (some duplicates have been removed)